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What I need to do is a refi but I've been unemployed since April and couldn't get a loan if I had to (I have a great credit rating, too, but have only been able to find part-time supplemental work).

I'm afraid to look at my 401k - which would be my 2nd option for cash. I have an equity line, but no income to repay - especially when I'm barely covering the bills now.

I've owned the home since the early 80's and expect to be here, hopefully, another 30 years... Any thoughts from the lawyers, mortgage, banking folks out there?

Have you considered taking on a roommate? Or depending on the size of your house..roommates? Wouldn't that be a better alternative than selling a "share" of your house?

To my knowledge that wouldn't be possible, unless you declared your property an investment, set up an LLC (in which the investors were members), and refinanced under the LLC name. Of course, you would have to have a strong enough investor(s) to qualify for the loan.

you cannot sell a share of your home. Look at each of your bills and see if you can cut back on other expenses. Cut out premium channels on cable, contact other electrical companies in your area and see if you can get a lower rate on electricity. If you have a cell phone, get rid of home phone. Use coupons when you buy groceries and dont eat out. Get into what i call survivor mode. try not to touch your 401k as that is for retirement.

If you sell a share of your home to another person, you are partners with that person until one of you buys the other out, or depending on the documents, until one of you dies. I would look for a roommate. If you don't want a roommate, cut out anything, and I mean anything, that is not absolutely necessary. Either a cell phone or a landline, not both. No eating out, even at lunch. Drop anything except basic cable. If you don't care about tv, cut out cable completely. Clip coupons religiously. Drop any memberships that are not reimbursed by your employer. You get the picture. Do not borrow on your retirement accounts as you will regret that (and you have to pay it back and have a penalty). Personally, I would rather do all the cutting back than have a roommate.

If the OP has a mortgage, she already has a partner and that partner would have to agree to allow her to sell a share of the home. that is very unlikely.

I own several properties which I have just filed Quit Claim Deeds on to transfer 100% ownership from me to 50/50 with somebody else. One of those properties is mortgaged.

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